Minimum tax regime withdrawn on commercial imports

KARACHI: The government has withdrawn the five percent minimum tax applicable on importer of finished goods. Read more »

Commissioner empowered to issue assessment order of past ten years on discovery of undisclosed offshore assets

KARACHI: The government has empowered Commissioner of Inland Revenue, Federal Board of Revenue (FBR) to make assessment orders of past ten tax years where undisclosed offshore assets discovered. Read more »

FBR to notify special procedure for small traders, shopkeepers

KARACHI: Federal Board of Revenue (FBR) will notify special procedure for payment of taxes and filing returns by small traders and shopkeepers. Read more »

Loss carry forward allowed for three years on disposal of securities

KARACHI: The government has provided relief to investors of stock exchange by allowing carry forward the losses for three years on disposal of securities. Read more »

Tax on undistributed profits not to applicable beyond tax year 2019

KARACHI: The tax on undistributed profits will not be applicable beyond tax year 2019 as limit has been introduced through Finance Supplementary (Second Amendment) Bill, 2019 presented in the National Assembly on... Read more »